Education / Financial Aid Office / EIOH Students / Types of Aid

Types of Financial Aid

Financial Aid is money provided to a student to assist them in paying for their education. The major forms of financial aid include gift aid (grants and scholarships) and self-help aid (loans and student employment).

Gift Aid

The University of Rochester School of Medicine and Dentistry does not offer scholarships through the Financial Aid Office for Eastman Institute of Oral Health Students. However, some departments may have scholarship budgets for students in their programs. The Financial Aid Office encourages applicants to inquire with their departments if scholarships funds may be available. Any departmental scholarship funds awarded to students will be incorporated into their financial aid packages and included as an available resource.

Federal Loans (for Masters Programs)

Federal Student Loan Changes from the One Big Beautiful Bill Act

The array of loan options available to finance a dental/graduate education is potentially confusing. The Financial Aid Office will work closely with you throughout your years of dental/graduate school to assure that you have the information necessary for making informed decisions.

FIRST...an Unsubsidized Federal Direct Loan

The primary source of aid for any graduate/professional student who is a U.S. citizen or permanent resident is the Unsubsidized Direct Loan. An Unsubsidized is federally guaranteed, however there is no interest subsidy while the borrower is in school or deferment. Generally, borrowers accrue rather than pay the accumulating interest during this period. For loans obtained through the Federal Direct Loan program, accrued interest is not capitalized until the end of the grace period.

THEN, If Necessary

Most students will find the Unsubsidized loan, in combination with family support and/or other financial aid, sufficient to meet their needs. If this is not the case for you, you can then consider a Private Educational Loan to meet the difference between your resources and the estimated cost of attendance. Unlike the Unsubsidized Direct Loan, the terms of private loans vary by lender and may differ in interest rates, fees, repayment options, and grace periods. Most lenders review your credit history and credit score, and some students may need a co-signer to qualify. To learn more about the University of Rochester School of Medicine and Dentistry's lender comparison tool: ElmSelect (Link coming soon)

Additional Loan Information

Federal Student Loans and Interest Rates

Comparison: Federal vs. Private Student Loans

Federal Student Aid - StudentLoans.gov

Service Based Programs

Loan Forgiveness/Repayment Program

Private Loans (for Certificate Programs)

Students who are in need of a financing option for an Advanced Certificate Program may wish to consider securing a “Private Student Loan”. A private student loan is an educational loan that is not issued, associated with, or guaranteed by the federal government and is made to students by banks, educational lenders, or finance institutions.

They are comparable to federal loans in that students may borrow only for the costs associated with their education including: tuition, fees, books/supplies, the student’s off-campus living expenses, travel, etc. However, private student loans differ in that the terms of the loan may vary from one bank/lender to another. These differences may include varying interest rates, fees, grace periods, repayment options, etc. Additionally, private educational loans may require a check of the borrower’s credit history/score, and/or a creditworthy co-signer.